Oil & Gas

Explosions: LG. summons tank farm owners

Oct 21, 2013

Worried by the increasing cases of fire explosions and attendant risk to lives and property, the Apapa Local Government Area of Lagos has summoned all operators of tank farms within the area with a view to finding ways of averting future occurrences. The Lagos State Government had two weeks ago sealed up a local storage…

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We did not seize Capital Oil – AMCON

Oct 21, 2013

The confusion that followed the takeover of Capital Oil and Gas Industries Ltd by the Asset Management Corporation of Nigeria (AMCON) has been laid to rest with the clarification on the issue by Mustafa Chike-Obi, the Managing Director/CEO of AMCON. The AMCON MD “AMCON has not taken over Capital Oil but is managing it for…

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Discovery of shale gas will stimulate competition – Osahon

Oct 21, 2013

The Director of Department of Petroleum Resources (DPR) and President of the Nigerian Association of Petroleum Explorationists (NAPE), Mr. George Osahon, has stated that contrary to the concerns being raised that the discovery of shale gas by some countries would affect the export of Nigeria’s conventional gas, the new discovery would rather stimulate competition among…

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NNPC denies stopping importation of petroleum products

Oct 21, 2013

The Nigerian National Petroleum Corporation (NNPC) has said it has not stopped importing petroleum products into the country. NNPC in a statement yesterday in Abuja, refuted allegations that it had stopped the importation of petroleum products as reported in some national and international media. The statement, which was signed by the acting Group General Manager,…

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Market waits with bated breath for Brittania-U to pay for Chevron assets

Oct 21, 2013

The $1.6 billion bid made by Brittania-U Nigeria Limited for the three oil blocks offered for sale by Chevron Nigerian Limited, has raised eyebrows among other bidders as they wait with bated breath for the company to finance the acquisition. The concern in the oil industry, THISDAY learnt, has been fuelled by the fact that…

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US, UK, Netherlands train 134 Nigerian troops in Calabar

Oct 20, 2013

Mobile maritime training teams from the United States, the United Kingdom and The Netherlands are presently training 134 Nigerian soldiers and Naval personnel in Calabar. The Flag Officer Commanding Eastern Naval Command, Rear Admiral Joseph Omozuya Aikhomu made the disclosure while announcing the commencement of the Exercise African Winds 2013 at the headquarters of the…

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Nigerian LPG seen headed to China in rare move – Traders

Oct 19, 2013

China is set to receive a cargo of liquefied petroleum gas from Nigeria which is slated to arrive end-October or early November in a rare movement, traders said Thursday. The VLGC BW Nantes is heading to Wenzhou from Escravos in Nigeria, traders said. It is in the Indian Ocean and estimated to arrive at the…

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Pirate attacks by heavily armed gangs surge off Nigerian coast

Oct 18, 2013

Pirate attacks off Nigeria’s coast have jumped by a third this year with ships passing through West Africa’s Gulf of Guinea, a major commodities hub, increasingly under threat from gangs wanting to snatch cargoes and crews. “Pirates, often heavily armed and violent, are targeting vessels and their crews along the (Nigerian) coast, rivers, anchorages, ports…

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Public-Private Partnership and Onne port development

Oct 18, 2013

Orlean Invest, active in both the maritime as well as Oil and Gas industries of Nigeria, entered into partnership with relevant government agencies, including the ministries of transport and petroleum to drive Nigeria’s Oil & Gas Investment Forum at Onne Port, now in its second year. This is specifically in support of the Federal Government’s transformation agenda…

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Fabrication yard: Making Nigeria the maritime hub in Africa

Oct 18, 2013

Apparently satisfied with its efforts at developing a zero value greenfield NPA site into a $500 million facility, the Federal Government grants approval to Lagos Deep Offshore Logistics service provider (LADOL), a fully indigenous company, which plans to  spend $350 million (about N57 billion) on Egina vessel platform integration. The project is a Joint Venture…

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